Latest Housing Market Update
Fewer home sales and listings in the first quarter of 2018
“We saw less demand from buyers and fewer homes listed for sale in our region in the first quarter of the year,” Phil Moore, REBGV president said.
“Even with lower demand, upward pressure on prices will continue as long as the supply of homes for sale remains low,” Moore said. “Last month was the quietest March for new home listings since 2009 and the total inventory, particularly in the condo and townhome segments, of homes for sale remains well below historical norms.”
My Take: There is lower demand but low supply of homes for sale is making it more challenging for buyers to find their new home.
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